Can someone please explain why the petrol price is so high if the price of oil has dropped by over half of what it cost.
I do not understand the whole economics behind how the price of fuel at the pump gets calculated but the high fuel price does not make sense, so if someone can please explain.
The Rand has weakend but not so much so that it means a substantial decrease should not be on the cards in my opinion. The Rand has weakend from about R10.50 to about R11.50, whilst the price of oil has dropped by over half of what it costs.
I now the fuel price can not drop by even a quarter but a drop by about a R1 would not be an unrealistic expectation seeing the difference in the drop of the oil price compared to the difference in the decline of the Rand.!